Disclaimer: pages.slu.edu is a service of Saint Louis University, Saint Louis University does not control, monitor or guarantee the information contained in these sites. For more information »
Department of Professor: Rapach Summer 2009 ECON 312 Intermediate Macroeconomics Chapter Outline for “Chapter 6—Unemployment,” N. Gregory Mankiw, Macroeconomics, Sixth edition ( Natural rate of unemployment
See Figure 6-1 6-1 Job Loss, Job Finding, and the Natural Rate of Unemployment See Figure 6-2 L = E + U U/L = rate of unemployment f × U = s × E f × U = s × (L – U) f × (U/L) = s × [1 – (U/L)] U/L = s/(s + f) = 1/[1 + (f/s)]
Any policy aimed at lowering the natural rate of unemployment must either reduce the rate of job separation or increase the rate of job finding. Similarly, any policy that affects the rate of job separation or job finding also changes the natural rate of unemployment. 6-2 Job Search and Frictional Unemployment Frictional unemployment Sectoral shift Public Policy and Frictional Unemployment Unemployment insurance
CASE STUDY: Unemployment Insurance and the Rate of Job
Finding 6-3 Real-Wage Rigidity and Wait Unemployment Wage rigidity See Figure 6-3 Structural unemployment Minimum-Wage Laws CASE STUDY: The Characteristics of Minimum-Wage
Workers Unions and Collective Bargaining Insiders and outsiders See Table 6-1 Efficiency Wages Case Study: Henry Ford’s $5 Workday 6-4 Labor Market Experience: The The Duration
of Unemployment Variation in
the Unemployment Rate Across Demographic Groups See Table 6-2 Trends in Demographics Sectoral
Shifts Productivity Transitions Into and Out of the Labor Force Discouraged workers
See Table 6-3 6-5 Labor Market Experience: The Rise in European Unemployment See Figure 6-4 Unemployment Variation Within CASE STUDY: The Secrets to Happiness The Rise of European Leisure See Figure 6-5 6-5 Conclusion Questions for Review: 1, 2, 3, 5 Problems and Applications: 3, 4, 6, 7, 8 |
|
|
|
|
Disclaimer: pages.slu.edu is a service of Saint Louis University, Saint Louis University does not control, monitor or guarantee the information contained in these sites. For more information » |